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Article: Essential Therapeutics Announces Plan To Convert Series B Preferred Stock to Common Stock.
- Article from:
- PR Newswire
- Article date:
- November 13, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Essential Therapeutics, Inc. announced today that it has entered into separate Conversion Agreements with certain holders of its outstanding shares of Series B Preferred Stock. The holders of Series B Preferred Stock that have executed the Conversion Agreements have agreed, subject to obtaining the requisite stockholder approval and the satisfaction of certain other closing conditions, to vote all of the outstanding shares held by them in favor of converting all outstanding shares of the Company's Series B Preferred Stock into common stock. Each outstanding share of Series B Preferred Stock shall convert into the number of shares of common stock obtained by dividing the ...